In a bold move to enhance its user engagement and operational efficiency, Binance has announced an integration plan with Amazon Web Services (AWS) as of October 31. This collaboration aims to leverage AWS’s robust cloud computing and generative AI technologies to refine the trading platform’s systems. By focusing on improving user onboarding processes and customer
Exchanges
A thorough examination by Animoca Research has unveiled significant insights into the performance of crypto tokens that were listed on various major exchanges between January and September of this year. The report highlights a concerning trend within the crypto market, showing a predominant negative performance, with median returns plummeting between 40% and 70%. Covering listings
The FTX exchange, once a titan in the cryptocurrency marketplace, has been embroiled in one of the most notorious financial scandals in recent U.S. history. With its shocking collapse, numerous key figures within the organization have found themselves in legal turmoil. Central to this saga is Nishad Singh, former engineering director at FTX, whose recent
The downfall of FTX, once a prominent cryptocurrency exchange, has sent shockwaves through the financial landscape and, more specifically, the crypto realm. The company, which filed for Chapter 11 bankruptcy in November 2022, became one of the highest-profile casualties of the crypto market’s volatility and mismanagement. With the stakes so high, the intricacies of asset
On October 30, 2023, Kraken, one of the leading cryptocurrency exchanges, announced a significant restructuring initiative that has resulted in substantial layoffs, affecting approximately 15% of its workforce. This decision, framed as part of “organizational changes” to streamline operations and sharpen the company’s strategic focus, underscores the challenges that the crypto industry continues to face.
In an exciting development within the realm of digital finance, Visa has officially announced a partnership with Coinbase aimed at revolutionizing how users manage their cryptocurrency funds. This partnership, highlighted in a statement released on October 29, introduces an instant deposit service, specifically designed for those utilizing eligible Visa debit cards. With this initiative, Visa
In the tumultuous world of cryptocurrency, the fallout of mismanagement and sudden collapses has become a recurring theme. FTX, once a titan in the exchanges space, found itself embroiled in bankruptcy proceedings starting in November 2022, after a series of operational mishaps and alleged fraudulent activities came to light. The journey to recovery in such
On October 24, Kraken, one of the notable players in the cryptocurrency exchange landscape, unveiled its ambitions with the introduction of Ink, an innovative layer-2 network built on the Optimism Superchain. This initiative signifies a turning point for Kraken, as it aims to transition from a traditional centralized exchange model to a decentralized, user-driven framework
In the ever-evolving world of cryptocurrencies, transparency has become a cornerstone for building trust between exchanges and their users. The Indian crypto exchange WazirX recently released a proof-of-reserves (PoR) report, shedding light on the distribution of its customer assets. This report aims to enhance accountability and establish a framework for independent verification of funds, a
As of mid-October 2023, South Korean crypto enthusiasts are grappling with a staggering crisis that has rooted over 33,000 investors in a quagmire of inaccessibility to their digital assets. With approximately $13 million caught up in the turmoil, the immediate aftermath of the government’s strict regulatory measures is evident. The Virtual Asset User Protection Act
